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Found 30 results

  1. More than half of British households are set to see an increase in the cost of energy in April after the regulator, Ofgem, raised price caps. Ofgem sets maximum prices that can be charged for gas and electricity to those who have not switched suppliers and are on default tariffs. The new cap could see these households typically pay an extra £117 a year. The regulator is allowing suppliers to cover the higher costs they face on the wholesale market. "We can assure these customers that they remain protected from being overcharged for their energy and that these increases are only due to actual rises in energy costs, rather than excess charges from supplier profiteering," said Dermot Nolan, chief executive of Ofgem. https://www.bbc.co.uk/news/business-47133564
  2. Rogue pension and finance companies closed down after abusing millions of pounds READ MORE HERE: https://www.gov.uk/government/news/rogue-pension-and-finance-companies-closed-down-after-abusing-millions-of-pounds
  3. New laws to better protect millions of Brits who book holidays online READ MORE HERE: https://www.gov.uk/government/news/new-laws-to-better-protect-millions-of-brits-who-book-holidays-online
  4. Tens of thousands of customers of rent-to-own firm PerfectHome will share a £2.1 million compensation pot for unfair treatment. Under a deal agreed with the Financial Conduct Authority watchdog, the firm will refund customers in the form of cash payments and balance write-offs. The FCA ruled that at least 2,000 customers were given loans they could not afford. In total, about 37,000 people will benefit from some level of financial redress, the FCA said. https://uk.yahoo.com/finance/news/rent-firm-perfecthome-pay-repay-millions-37000-customers-130642019.html
  5. Read more: http://www.mirror.co.uk/money/household-bills/repairs-rip-shame-millions-motorists-10907702
  6. https://www.theguardian.com/money/2017/jun/17/uk-debt-bubble-queens-speech-consumer-credit-loans-spending I noticed quite a few advertisements for 'no interest' loans taken over 4 years with companies such as PC World/Currys - B&Q and a Carpet store. So, it looks like for companies to stay in business they need to sell - people cant afford to buy - so lets tie them up with MORE credit for 4 years !
  7. This article is from the Telegraph so the link may not work. http://www.telegraph.co.uk/news/2017/05/05/millions-smart-meters-may-need-replacing-due-blunder/
  8. READ MORE HERE: http://www.thetimes.co.uk/article/scandal-of-war-vets-vanished-charity-funds-mjxnd79pw
  9. For the full story : - http://www.mirror.co.uk/money/thief-your-pocket-millions-paying-8455571
  10. As research shows fraudsters targeting people under-55 and encouraging them to access their pension early is on the increase, Which? investigates some of the causes. City of London Police figures show that in the 12 months to February 2016, £13.2 million was lost to pensions liberation [problem]s – an increase of 26% on the previous year. Pension liberation schemes target people under-55 and encourage them to withdraw or transfer their pension savings. However, pensions are designed to only allow savers access to their money after they turn 55. Accessing pensions savings before 55, unless in exceptional circumstances such as ill-health, is not permitted and consumers face losing up to 70% of their pot as a tax penalty. And yet we found that companies offering early pension release for those under-55 are clearly advertising their services online. These sites offer early access to pension savings, potentially exploiting consumer confusion with the new pension freedoms, and don’t explain the huge losses at stake, often charging exorbitant fees. Many of these sites, which could potentially be [problem]s, also appear prominently when searching online for phrases such as ‘cashing in your pension’ and could be contributing to an increase in pensions liberation [problem]s. The Financial Conduct Authority has issued a clear warning to savers about opting for early pension release, but adverts for early pension release often downplay the risks. http://press.which.co.uk/whichpressreleases/pension-[problem]s-cost-savers-millions/
  11. According to a security expert, tens of millions of usernames and passwords have been hacked, concerning email accounts with Gmail, Hotmail and Yahoo, with the details traded online. The report says that data from somewhere in the region of 97 million accounts have been swiped. It looks like personal information from around 40 million Yahoo Mail accounts, 33 million Hotmail accounts and 24 million Gmail accounts have been accessed. You can read Hold Security's full report on this breach, right here, if you want to know more. Obviously, it'd be a good time to update your password if you have accounts with any of those companies http://www.bitterwallet.com/privacy/cyber-attack-hits-millions-of-gmail-hotmail-and-yahoo-accounts-91917
  12. Train companies are still failing to provide customers with accurate information about delay compensation, new research by the rail regulator has found. The research is in response to a super-complaint issued by Which? in December 2015 that highlighted how badly some train companies were letting down their passengers. The Office of Road and Rail (ORR) investigation has agreed with Which? that rail passengers are being doubly disadvantaged by train delays as the claims process for compensation is neither clear nor straightforward. One company even openly admitted that it’s not in its best interest to promote compensation to its passengers. How to claim refunds for train delays and cancellations Don’t miss out on the compensation you’re entitled to if your train is delayed. Use our guide to find out how much train delay compensation you’re due and how to claim it. http://www.which.co.uk/news/2016/03/train-companies-still-failing-millions-of-passengers-436881/
  13. From the BBC. Some hospital trusts in England are making more than £3m a year from car parking fees, Freedom of Information (FOI) requests have shown. Of more than 90 trusts that responded to FOI requests, half are making at least £1m a year, the news agency Press Association (PA) found. The Patients Association said the charges were "morally wrong". But many trusts defended their revenues, saying some or all of the money was put back into patient care. http://www.bbc.co.uk/news/uk-35157425 HB
  14. Delayed airline passengers are potentially missing out on millions of pounds of compensation, according to an investigation by Which?. The consumer group found that between June 2014 and May 2015, 37 million passenger journeys to or from the UK were delayed by 15 minutes or more. About 900,000 people could be eligible for compensation, but only around 38% of them ever claim, Which? found. Passengers delayed for over three hours are entitled to up to 600 euros (£422). Those protected by the Denied Boarding Regulation have to be flying with an EU-based airline or flying from an EU airport. More than 9,000 flights are delayed for three hours or more each year, the group said, with an average of 97 passengers on each flight. Which? director of campaigns Alex Neill told BBC 5 live: "We want people to assert their rights and hold their airline to account for those delays and claim the compensation that they are owed." http://www.bbc.co.uk/news/uk-33833059
  15. http://www.dailymail.co.uk/news/article-3133755/Millions-facing-junk-mail-deluge-Secret-Royal-Mail-plan-deliver-marketing-letters-shoppers-simply-click-product-online.html
  16. A careful driver who only nips to the shops: why was Stan asked to pay £12k to insure his Fiesta? Millions of elderly motorists taken for a ride
  17. Which? found nearly half of people (46%) who came to the end of their mobile contract did not switch immediately, collectively overpaying by a total of £355 million per year – an average of an extra £92 each towards handsets they had already paid for. Most contracts combine the cost of the tariff and the handset over the minimum term, usually 24 months. But this is not always split out, so people don’t know how much each element costs or when they have finished paying for their phone. Six in 10 (60%) people we surveyed told us that having a provider who separates its bill so you can clearly see the tariff and handset costs was important to them when switching. O2, Virgin Media, Tesco Mobile and Utility Warehouse have tariffs where the handset and airtime costs are separate while giffgaff have never bundled the handset in. Customers on Vodafone, EE and Three still continue to be charged one bundled price. For example, a contract with O2 Refresh for an iPhone 6 costs £49 a month for 5GB of data and unlimited minutes and texts. Of this, O2 is clear that the handset part of the bill is £25, so when the contract is over you only pay £24 per month. On a similar plan with Vodafone (4GB of data and unlimited minutes and texts) it costs £48.50 a month – but that price doesn’t change once you come to the end of your contract and have finished paying off the cost of the handset. Which? says "All mobile phone operators should separate out the cost of the handset so people don’t continue to pay after the contract comes to an end." http://press.which.co.uk/whichpressreleases/millions-of-pounds-wasted-paying-for-mobiles-people-already-own/
  18. Motorists could demand the refund of more than £100m in parking fines, after what experts described as an “explosive” tribunal ruling left local government traffic officials in “absolute panic”. Councils have handed over parking management to private companies, but in many instances have also asked them to handle any appeals against penalty charge notices (PCNs). This process is supposed to be handled by councils, partly because it would be a conflict of interest for a company to examine its own possible mistakes. The Traffic Penalty Tribunal is the second point of appeal and an adjudicator, Christopher Nicholls, has spelled out that council contractors must not be left to process PCN objections. His ruling stated: “I find that no reasonable local authority could have concluded this contract met the terms of its regulatory and public law duties.” As a result, 13 motorists in Gloucestershire were awarded their parking fines and costs after their initial appeals were turned down by the county council’s contractor, Apcoa. The motorists were repaid sums ranging from £42.50 to £155.67. The decision has widespread implications for people who may have been incorrectly fined. http://www.independent.co.uk/news/uk/home-news/drivers-may-reclaim-millions-in-unfair-parking-fines-9746466.html
  19. Housing charities warn many families are struggling to buy food and meet other costs due to rising property prices and rents Millions of households spend over a third of their income on “unaffordable” mortgages or rental payments and are struggling to meet other costs, according to housing charities. BBC Panorama will tonight broadcast a programme on whether a "great house price bubble" is forming in the UK. Experts fear that rising property prices and rents are putting pressure on families already struggling to cope as energy and food prices soar while wages remain stagnant. Panorama found 31pc of households spend over a third of their income on housing. Charities Shelter and the Joseph Rowntree Foundation said if people are spending 35pc or more of their disposal income on rent or mortgages they may not be able to afford other basic needs such as enough food. The situation is likely to intensify when interest rates rise, which will push up mortgage payments for millions of borrowers. Robb Campbell, chief executive of Shelter, said many families are struggling. “Families are stuck in properties that they can’t afford to get out of – they may have two or three children and just can’t afford to get a bigger property and are struggling to keep their families going in those circumstances,” he said. More: http://www.telegraph.co.uk/finance/personalfinance/houseprices/10441013/Great-House-Price-Bubble-Millions-struggle-with-unaffordable-mortgages.html
  20. New powers come into force on Friday that could lead to millions of fines handed out to motorists by police for committing driving offences they did not know existed !!! http://www.dailymail.co.uk/news/article-2391203/Millions-motorists-face-fined-range-sweeping-new-police-powers-tackle-careless-drivers.html
  21. More than seven million people are in line to share a £1.3 billion compensation pot after Britain's biggest banks yesterday agreed to foot the bill for years of mis-selling credit card insurance cover. But millions more could miss out as regulators admitted the redress scheme linked to the CPP company at the centre of the scandal will not include customers who bought - and cancelled - their policy before 2005. Anyone who cancelled their policy before that time, when the regulator took responsibility for the market, will have to apply directly to CPP or their bank or credit card company. Those who bought or renewed a policy after 2005 will be written to directly. One industry source said: "If you're post 05 it seems like a sensible system, but you're pre 05 it could be a painstaking operation. "If a bank rejects your claim, you're left with the Ombudsman, and they are under all sorts of pressure tackling PPI as it is." More: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10260687/Millions-to-get-CPP-compensation-but-millions-may-miss-out.html
  22. New powers come into force on Friday that could lead to millions of fines handed out to motorists by police for committing driving offences they did not know existed !!! http://www.dailymail.co.uk/news/article-2391203/Millions-motorists-face-fined-range-sweeping-new-police-powers-tackle-careless-drivers.html
  23. Peter and Judith Lewis were left humiliated when they tried to switch to a better current account deal as Nationwide turned them down, due to a bad debt, despite the pair never having had any money troubles. I rang the credit reference company and said: “You’ve libelled me.” We were so angry with them. Read More
  24. Banker-bashing may be all the rage if you believe what people say but actions speak louder than words. New research suggests nearly half of all current account holders are happy to let banks have the use of their money interest-free. Hot air has done nothing to hurt bankers’ bonuses. Widespread consumer apathy allows these high street institutions to continue to suit themselves when dealing with most people’s salaries and savings. Almost nine in 10 current accounts – more precisely 87pc – pay no interest on credit balances which typically total £130bn before pay day, according to CACI Current and Savings Account Market Database. As a result, 46pc of people who have credit balances in their current accounts at the end of the month are effectively subsidising the high street banks to the tune of many millions of pounds a year. Hetal Parmar of Santander, which commissioned the research, said: “Millions of people have money in their current account each month that could be earning interest. At a time where every penny counts, it’s important to ensure your cash is working for you.” The bank is keen to promote its 123 Current Account which pays 1pc when the balance exceeds £1,000; 2pc when it is more than £2,000 and 3pc above £3,000. That’s better than most but far from being the best you can do on the high street. For example, Nationwide Building Society pays 4.89pc on its FlexDirect current account and Bank of Scotland and Lloyds TSB pay 1.09pc on deposits as low as £1 on their Classic Vantage accounts. More than four years after the slow-motion bank robbery began, with the Bank of England freezing interest rates far below the rate of inflation, anyone with a credit balance needs to be vigilant to preserve the real value or purchasing power of their money. Just to stand still, with the Consumer Prices Index (CPI) stuck at 2.8pc as announced this week, a basic rate taxpayer needs an account paying at least 3.5pc, while a higher rate taxpayer needs an account paying at least 4.6pc. Sylvia Waycot of independent statisticians Moneyfacts.co.uk told me: “The impact of inflation on savings means that £10,000 invested five years ago, would have the spending power of just £8,870 today. “Savers could be forgiven for thinking they are the forgotten casualties from volatile inflation. This might be because the word ‘savers’ conjures up wealth when the reality is more to do with making ends meet. “Many people, particularly pensioners, rely on savings interest to fund day-to-day living expenses and today’s announcement will not ease the burden of a dwindling spending power from what are meagre savings returns.” Unfortunately, whatever the Government may say to the contrary, it prefers to punish the prudent and subsidise spendthrifts by allowing inflation to erode the real value of savings and debts. As the biggest debtor in the country, the Government is also the biggest beneficiary of the stealthy transfer of wealth effected by this slow-motion bank robbery. But, as pointed out in this space from time to time, savers outnumber borrowers by six to one. So the Government would do well to take account of pressure groups such Save Our Savers before the silent majority next gets a chance to make its views felt at the ballot box. In the meantime, we can all vote with our money by switching accounts. Link: http://blogs.telegraph.co.uk/finance/ianmcowie/100024092/how-millions-of-current-accountholders-subsidise-bankers-bonuses/
  25. Read this article and you will be flabbergasted! Click on this link. http://www.dailymail.co.uk/news/article-2238017/UK-gives-19million-aid-South-Africa--president-spends-17-5million-palace.html
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